State of the market: the American dollar forms a reversal - Ester Holdings

State of the market: the American dollar forms a reversal

Trades on Wednesday opened with a decline in the US currency on the growth of optimism in the stock markets and a weakening of fears about the US and China trade confrontation. At the same time it was reported that the US will promote new duties on Chinese exports since August 23.

At the beginning of the day, China’s trade balance was released, which, despite the growth in the share of exports and imports, showed a decline in the trade balance. The surplus of China’s trade balance remains positive, but it also shows a slowdown in recent years, which negatively affected the Chinese yuan against the US currency. As a result, there is a slowdown in the decline of the pair USD/CHN.

USD/CHN chart. Current price – 6.80

 

The dollar index, in turn, trades downward, forming a reversal model “head and shoulders”, which is limited to the level of 95.00. The break of this level will indicate the development of the figure and will open the way to the support levels: 94.80 and 94.60. Resistance is located at around 95.20-30, breaking through which will cast doubt on the possibility of a turn.


Read also: “The Economy of Japan in the Conditions of Continuous Ultra-Soft Monetary Policy”

Hanzenko Anton

Earn with the help of the trade service on the news Erste News!

Topical articles of the trader’s blog:

  1. Stock indices: the Japanese market
  2. Emerging markets and their prospects: Turkish lira (TRY)
  3. Stock indices: the UK market

Current Investment ideas:

  1. Preparing to have profits on an optimistic report of Alcoa Inc.!
  2. On weak reporting of Boeing shares we can get a strong income!

Аналитическая рассылка

分析 交貨
签署每日早晨分析报告,首先了解最重要的市场活动!

Вы с украины?